Inc.5 Shoes has raised its maiden institutional funding, Garuda Aerospace has bagged $3 million in a fresh bridge round, and Husk Power Systems has closed $43 million in Series D funding.
Inc.5 Shoes bags $10m in Series A
Footwear brand Inc.5 Shoes on Wednesday said it has raised its maiden institutional funding in a Series A round of $10 million.
The round was led by Carpediem Capital and saw participation from public market investors Param Capital and P3 Venture Fund (Sureka Family Office).
The firm will deploy funding towards store expansion, amplifying its online presence, strengthening senior leadership, and building backend capacities like bolstering its inventory management technology and expanding categories.
The brand plans to scale its existing presence by 3x, solidifying its footprint in urban areas and targeting tier-2 and select tier-3 cities.
Garuda Aerospace snags $3m in bridge round
Garuda Aerospace said it has raised $3 million (Rs 25 crore) in a fresh bridge round led by Venture Catalysts and WeFounderCircle.
The funding round witnessed commitments from investors including Hems Angels, San Angels, Peaceful Progress Funds, and several prominent angel investors.
The funds secured through this bridge round will be primarily utilised to address the sudden demand for drone solutions. The company will allocate the funds towards working capital requirements, ensuring seamless execution of the IFFCO drone order and fulfilling the pre-booked orders from numerous dealers across the country.
Husk Power secures $43m in Series D round
Husk Power Systems said it has closed $43 million in a Series D funding, the largest equity raise in the mini grid industry.
The equity funding includes new investors STOA Infra & Energy, the US International Development Finance Corporation (DFC), and Proparco, as well as existing investors Shell Ventures, Swedfund, and FMO.
In addition, Husk has leveraged the Series D equity to secure an additional $60 million in debt from several finance institutions, including the European Investment Bank (EIB) and the International Finance Corporation (IFC).
